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to pay taxes, we should not be using taxes to reward people who fail. we should be using them to reward people that want to work. everybody in this country should succeed, not just people in government. host: president obama gave an address yesterday talking about how congress should act to keep taxes low. let's take a listen. >> 97% of small-business owners will not see their taxes go up next year. this is something everybody says they agree on. it should have gotten done months ago. republicans in congress are standing in the way. there are holding tax cuts for 98% of americans hostage until they pass tax cuts for of the richest 2%. congress needs to step up and provide every responsible homeowner a chance to save $3,000 a year on mortgage at refinancing at lower rates. i give them a plan to do that in february. it is a plan that has the support of independent nonpartisan economists. republicans will not let it come to a vote. ask them how that helps homeowners. congress needs to step up and pass my plan to create a job corps to help our returning heroes find jobs as cops, firefighter
you later on in the show and tonight's vice presidential debate, the tax discussion will be a key issue, the so-called $5 trillion tax cut for rich people. now, take a listen to former senator alan simpson in an exclusive interview only on cnbc today. >> you have a situation where grover norquist has obtained this pledge in the '80s, in the early '90s, he got this pledge that you wouldn't raise taxes under any circumstances unless they are commensurate with spending cuts and those guys are enthralled to him. >> best way to take that on is to reform the tax code, to broaden the base and simplify the code, to wipe out these tax expenditures and use that money to reduce rates. >> well, all right. lo looks like bowles supports the grover norquist idea which is the romney idea. sounds like simpson, as usual, is being very crotchety. let's get to the two guests to get to the hoe-down. dean baker from the center for economic and policy research and the aforementioned grover norquist, president of americans for tax freedom. first of all, grover, what is alan simpson talking about? >> well
sense. who do you trust on this? they're saying no, they're holding hostage the middle class tax cut to the super wealthy. just get out of the way. but it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsible responsible for their own lives. >> i think the vice president very well knows that sometimes the words don't come out of your mouth the right way. >> but i always say what i mean. have you ever seen me rope-a-dope. ♪ how you like me now ♪ how like me now ♪ how you like me now >> he came, he saw, and he told the truth, and the great pretender, paul ryan, was exposed after a no holds barred full out slugfest of a debate with vice president joe biden last night. and for democrats across the country, it is tgi biden, a man who brought the fight to congressman ryan with a huge heart and lethal honesty on everything from medicare to taxes, abortion, middle class opportunity, and foreign policy. and this afternoon the vice president landed in ryan's home turf of wisconsin hungry for more action going after romney/ryan on the 47%.
a guy pretending to be mitt romney stood on a stage next to me. what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. >> we are going to win this. we're taking back the white house. >> the romney family is taking back this campaign. >> or not. >> that was kind of strange. trying to stick words in people's mouths. >> stay in your seats. there's just four weeks until election day. >> the top rate, for instance, would go from 35% to 28%. >> don't pay any attention to that tax cut behind the curtain. >> i'm not sure exactly precisely with what i said but i stand behind it, whatever it was. >> we begin exactly 28 days until the election with both the president and his challenger declaring they will win a race that is anything but settled. today their paths will cross again in ohio, the state that may yet decide this election. amid new signs of urgency from both campaigns. case in point, this afternoon's gallup poll showing the president leading mitt romney 49% to 46% among registered voters. among likely voters it's romney up by two leading the president 49% to 47%. f
and made sure we cut taxes for the middle class. and in addition to that, when that occurred, what did romney do? romney said, no, let detroit go bankrupt. we moved in and help people refinance their homes. governor romney said no, let foreclosures hit the bottom. but it shouldn't be surprising for a guy who says 47% of the american people are unwilling to take responsibility for their own lives. my friend recently nay speech in washington said 30% of the american people are takers. these people are my mom and dad, the people i grew up with, my neighbors. they pay more effective tax than governor romney pays in his federal income tax. they are elderly people who in fact are living off of social security. they are veterans and people fighting in afghanistan right now who are-- quote-- not paying any taxes. i've had it up to here with this notion that 47%-- it's about time they take some responsibility here. and instead of sign pledges to grover norquist not to ask the wealthiest among us to contribute to bring back the middle class, they should be signing a pledge saying to the middle c
trillion tax cut on top of 2 trillion for our military. and essaying that he is going to pay for it by closing loopholes and deductions. the problem is that he has been asked over 100 times how you would close those deductions and loopholes, and he hasn't been able to identify them. >> i'm not look for a $5 trillion a tax cut. what i have said is i won't put in place a tax cut that adds to the deficit. middle-income americans have seen their income come down by $4,300. this is a tax in and of itself. i'll call it the economy tax. it's been crushing. >> question. why did president obama seem thrown off balance? did he underestimate governor romney, pat buchanan? >> he certainly d. governor romney performed better on substance than any candidate in any presidential debate in history. reagan would have beaten him in style in 1980 but on substance i've never seen anybody better prepared than governor romney. he was on of fence. the real question, why did barack obama, the president, do so badly. john, he didn't come prepared for what he found there. he seemed difident, almost dis
. the centerpiece of governor romney's economic plan is a new $5 trillion tax cuts that favors the wealthiest americans, but most of the economists who have crunched the numbers said that paying for governor romney's tax plan -- one or the other. pick your poison. last week when we were on stage together. governor romney just pretended it didn't exist. what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. pay no attention for that tax cut under the carpet behind the curtain. >>> romney's pretending his tax cut plan doesn't exist, but the president won't let him get away with it. he also won't let him get away with hitting the middle class to protect his own tax rate. >> governor romney said it's fair he pays a lower tax rate than a teacher or autoworker who makes $50,000. he is wrong. i refuse to ask middle-class families to give up their deductions for owning a home or raising their kids just to pay for another millionaire's tax cut. i refuse to pay for that tax cuss by asking you students to pay more for college or kicking kits out of headstart or
of the campaign is the lie that mitt romney will raise taxes on the middle class. mitt romney has no chance of raising taxes on the middle class. his republican base would kill him. the concept of raising taxes on the middle class will never happen. >> if not, something has to give. then he can't deliver tax cuts. >> you can come up with a tax reform plan. increased revenue that takes down the rates, makes it fairer everybody. it's difficult, but you can do it. >> you can't take the rates down 20% though on top of the bush tax cuts. >> romney said, i have reform principles. they are going to help grow the economy and create jobs but the idea he can raise taxes is fanciful. he'll never do it. >> if you are going to cut taxes for the wealthy as much as mitt romney wants to there is no way or he would have put forth the pro growth plan. he's ring on magic like harry potter will be his treasury secretary. >> he's not going to be able to cut taxes for rich people. he doesn't want to. the idea of pro growth taxes -- >> didn't he say 20% across the board? >> he did, but he also said if you take up
of abortion? do we deliver tax cuts? it's important that the president do this for the basic reason that people in this country know what they are voting for and if they decide against. and that's "hardball" for now. "politicsnation" with al sharpton starts right now. >> thanks, chris, and thanks to you for tuning in. tonight's lead, no hiding from biden. for months mitt romney and paul ryan have been running from their records, hiding their extreme far right agenda behind platitudes and big promises, trying to pin them down on specifics was like trying to nail jello to the wall. but that all stopped last night. we'll talk about all of it in the show tonight, how vice president biden took the fight to paul ryan on issue after issue. on taxes, on medicare, on abortion, on their plan to privatize social security and to gut medicare. joe biden simply dismantled the romney/ryan world view. but also talk about how the right wingers are trying to make a big deal out of joe biden's smile. so what? i would have been outright laughing in paul ryan's face. joe biden was fed up and who could b
ban of abortion, do we deliver huge new shipments of money in the form of tax cuts to the country's wealthy? it's important that the president do this for the basic reason that people in this country know what they're voting for and if they decide against. and that's "hardball" for now. thanks for being with us. "the ed show" with ed schultz starts right now. >>> good evening, americans. welcome to "the ed show" live from minneapolis. when you stand with middle class workers, you can't lose, and he ain't no ordinary joe. joe biden proved that last night. and as winston churchill once said, i like a man who grins when he fights. this is "the ed show." let's get to work. >>> these are the folks who talk about 47% of the american people being unwilling to take responsibility. it's about time governor romney takes some responsibility. >> the vice president keeps the hits coming after his knockout debate with paul ryan. >> stop talking about how you care about people. show me something. >> richard wolffe on the education of congressman paul ryan. >> ronald reagan -- >> now you're jack
. they pay more effective tax than governor romney pays in his federal income tax. they are elderly people who, in fact, are living off of social security. they are veterans and people fighting in afghanistan right now who are, quote, not paying any taxes. i've had it up to here with this notion that 47% -- it's about time they take some responsibility here. and instead of signing pledges to grover norquist not to ask the wealthiest among us to contribute to bring back the middle class, they should be signing a pledge saying to the middle class, we're going to level the playing field. we're going to give you a fair shot again. we are going to not repeat the mistakes we made in the past by having a different set of rules for wall street and main street. >> that sound bite right there by joe biden made paul ryan look out of his league a number of times in the debate, but especially right there. when paul ryan criticized the stimulus plan, biden's response was devastating. >> i love my friend here. i'm not allowed to show letters, but go on our website. he sent me two letters saying, by the w
today with the threat of higher interest rates and a losing a dollar and much higher tax rates. we know that we are giving the students here at this academy, our children and grandchildren, a lower standard of living. we've never done that in this country before. host: vice-presidential candidate paul ryan in new hampshire at a recent event. here's what you might hear from the vice-president joe biden at tonight's debate. this is from a recent campaign stop in florida. [video clip] >> there is no quit in america, folks. ladies and gentlemen, that's why i know i'm not the only one who was offended to hear governor romney write off nearly half the country is in his statement about 47% of the people being dependent. if you read the book congressman ryan has written with two other leading young members of the republican party, they talk about -- the title of the book is "young guns," and they talk about this culture of dependency in america without acknowledging that all those people -- of the 47%, 82% to pay federal taxes, the remaining 10% are seniors on social security who don't have to
>> eric: that's it for us. >> jamie: shannon? >> my plan is not to raise taxes on anyone. i'm going to reduce taxes for middle-income americans. >> mr. romney wants another $5 trillion in tax cuts that he can't pay for. >> you can't have it both ways. a battle over $5 trillion, your tax dollars, president obama says a tax cut by the governor would roll out benefits to only the wealthiest americans at the cost of the middle class. romney says, no matter how many times the president says it it is not true. who is telling the truth? i'm shannon bream, live in washington. we have representatives from both sides of the aisle. rnc chairman, reince priebus and dnc chairwoman, debbie wasserman-schultz. welcome. we start in washington with reince priebus. i want to talk about the unemployment numbers for september, 7.8%, the lowest since president obama has been in office. he said, you can't turn back now, america is moving in the right direction. has he made a case that we are seeing recovery? >> not at all. first of all, we will let the economists argue over the numbers. i know people are
choices. his economic agenda, more spending, borrowing, higher taxes, a government takeover of health care -- it is not working. it has failed to create the jobs we need. 23 million americans are 23 million americans are looking for work today. this is not what a real recovery looks like. you deserve better. mitt romney and i want to earn your support. we are offering real reforms for a real recovery for every american. mitt romney, his experience, his ideas, his solutions is uniquely qualified to get the job done. at a time we have a jobs crisis until a america, would it not be nice to have a job creator in the white house? the choice is clear. a stagnant economy that promotes more government dependency, or a dynamic growing economy that provides opportunity and jobs. mitt romney and i will not duck the tough issues. we will not blame others for the next four years. we will take responsibility. we will not try to replace our founding principles. we will reapply our founding principles. the choice is clear. the choice rests with you. we ask you for your vote. thank you. >> thank you both a
pretended it didn't exist. what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. pay no attention to that tax cut under the carpet. >> now, that was the president waxing incredulous while former president bill clinton last night, well, he went full clintonian, painting the picture of how mitt's transformation went down. >> the deal was made by severe conservative mitt. that's how he described himself. for two whole years. until three or four days before the debate they got together and said, hey, this ship is sinking faster than the titanic so show up with a sunny face and say, i didn't say all that stuff i said the last two years. you going to believe me or your lying eyes here? come on. what are you doing? >> i think he actually caught air there. and it's no wonder with romney suddenly shifting on all marng of positions, lately it's a woman's right to choose. here he is to "the des moines register" on tuesday. >> there's no legislation with regarding -- with regards to abortion that i'm familiar with that would become part of my agenda. >> funny. around this time la
into record deficits under george bush is because we put two wars and two tax cuts on a credit card. and now governor romney wants another $5 trillion in tax cuts that he can't pay for? not if i have anything to say about it. that's not going to happen. [applause] we are not going to let this country fall backward. not now. not with so much at stake. we've got to move forward. we need to invest in small business and manufacturers who create jobs here in the united states. we need to recruit 100,000 math and science teachers, train two million workers at community college, bring down the cost of college tuition. we need to -- [cheers and applause] we need to cut our oil imports in half. create thousands more jobs in clean energy. we need to use the savings from ending the wars in iraq and afghanistan to help pay down our deficit and put people back to work doing some nation building right here at home. that's the agenda we need. that's how you strengthen the middle class. that's how you keep moving forward. that's the choice in this election. and that's why i'm running for a second term. that
was going to cut taxes for wealthy people? >> he is the etch-a-sketch guy who has transformed himself and quite frankly, we always have to wonder which mitt romney is going to show up. if you just lay out lie after lie after lie about your own plan, as well as what the president has been talking about, of course you can look good. megyn: joining me now is chris stirewalt, host of "power play." i wanted to get back to january of 2009 when president obama in a common about immigration. joe wilson, shouted out, you lie on the floor of the house. watch this. >> there there are those that claim that our reform efforts would ensure illegal immigrants. this, too, is very false. the reform -- the reforms i am proposing would not apply to those who are here legally. megyn: the president and his supporters back then were outraged that joe wilson chose to resort to name-calling and calling him a liar. because they disagreed with what he was saying about his policies. the leader came out and said we have to get to the point where we can have a conversation about big and important issues that matt
never been done before. >> been done a couple times. jack kennedy lowered tax rates. >> oh, now you're jack kennedy. jon: they touched on the biggest issues for americans jobs and the economy. their messages directed at middle class voters. >> can you declare anything off limits? >> mortgage loopholes. higher deductions, from higher income people. >> can you guaranty no one making less than 100,000 have a mortgage deduction impacted? >> this tax as million small businesses. he keeps trying to make you think some movie star, hedge fund guy. >> 97% of the small businesses make less than $250,000 a year. would the no be affected. >> this tax is a million people. a million small businesses. >> does it tax 97% of the american businesses? >> it taxes -- >> foreign policy. >> want to get people out of poverty in the middle class for self-sufficiency. we believe in upward mobility. that is we'll push for in romney administration. >> we saved a million jobs. i never met two guys more down on america across the board. we're told everything is going bad. 5.2 million new jobs, private sector jo
means receives will go. is also said that is going to be able to tax loopholes. i'm not a tax expert, but it seems to me that there's an awful lot of those loopholes, and that will help. and again when we're only talking about essentially 1.4% of% of the entire problem, it se a doable doing to fix. you can't fix it in one year. you can fix in four years for sure. so at least i try to answer your question. now, i can't just sit back and listen to some of the stuff and be told in effect well, facts matter but you, dov, you just don't know any facts. first of all, one little fact, i really wonder whether mr. panetta who talked about the smallest number of ships since 1915, said that in a letter to your former boss, senator mccain, would really be happy to give this argument is ridiculous. wasn't a republican who made that case. it was mr. panetta. number one. number two, the navy is going to be bigger because i funded the ships that are being built. it takes a few years to get them out to see. look at the pattern of naval spending, and the number of ships over the next few years. the ai
. romney is ignoring the fact that his tax plan is a give away to the rich. the only problem, that's not the mr. romney who's running for president and this weekend newt gingrich, one of his top surrogates let the cat out of the bag. >> standing on the stage with you in arizona, this is what mitt romney said. number one, i said today we're going to cut taxes on everyone across the country by 20%, including the top 1%. mr. speaker, you mentioned that your opponent, mitt romney, had a problem with being dishonest and the primary of my question is, was he dishonest when he said that? >> i think it's clear he changed. >> clearly he's changed. another romney surrogate even admitted it. >> that's all you're seeing here. it's very typical. we we strong conservatives understand that. it's campaign strategy. >> it's typical. just campaign strategy. that's all you're seeing here. very typical. but here's the thing. the more he moves to the middle, the more hypocritical he looks. this weekend, moderate campaign with none other than congressman allen west. yes, the same allen west who thinks t
it. krystal, when you look at his record, it seems right for pickings. his budget raises taxes on the poor. it makes seniors pay $6400 more for medicare coverage, all while giving millionaires a $265,000 tax break. meanwhile, he voted for defense cuts he blames on president obama and mr. fiscal conservative voted to increase the debt ceiling by $4 trillion under president bush. seems like right pickens to me, krystal. >> frankly, he can't be directly honest about the plans because they are toxic. it is not popular to fund tax cuts for the rich on the backs of the poor. that is not something that sells in this election. on the other hand, biden and obama have been very consistent and their policies are broadly popular. they are talking about restoring the middle class. they are talking about the american dream. they have a balanced plan that makes sense to americans. so i think it is very tough for paul ryan. not only does he have to defend his own budget but mitt romney's plans and he has to be able to reconcile the differences between what mitt romney has been selling and what
that president obama has not raised taxes while he has been in office. seriously? mitt romney is dropping that argument? he doesn't think president obama has raised taxes? no, not really. his campaign later saying, never mind what mitt romney just said. that's not actually what he believes. sure, he said president obama didn't raise taxes, and president obama didn't raise taxes, but really, mitt romney officially thinks that he did. they have done this over and over and over and over again, on big issues like health reform, on small issues like whether he met a guy or not. and it is a ridiculous technique. i mean, think about what this means for the long run. i mean, the romney campaign is training the country to not believe this guy when he is talking. they're training the country to feel that, you know, wherever you hear mitt romney saying something today, don't worry, it doesn't really matter. it is all subject to revision later. long-term, this is a weird technique. it has been a strange political technique from the get-go this year. but mostly, it has worked for them. them correcting
boil. billionaires getting big tax breaks for buying up swanky condos in new york. swanky franky. robert frank on the story. >> very swanky. the tax breaks are amazing. the question everyone will be asking -- do billionaires pay $90 million for an apartment really need a tax break? a tax break aimed at low income folks? we'll dive into that issue next on "power lunch." [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while
. >> you can do that by cutting taxes? >> those are your words, not mine. >> thank you very much, sir. >> that was kind of strange. trying to stuff words in people's mouths? >> it sounds like you're -- >> ryan folks putting the paper in front of the camera and everything. vice presidential nominee paul ryan getting annoyed in this interview with terry camp in flint, michigan. the campaign even after the interview was over still went out of their way to trash the reporter that paul ryan walked out of that interview on. the campaign giving on the record quotes calling the reporter an embarrassment. the city where that reporter works and where that interview took place does have the worst violent crime rate in the nation. god bless flint, michigan. so that line of questioning here for mr. ryan was understandable. maybe even predictable. but beyond the newsworthiness of paul ryan getting up and taking off his microphone and ending the interview and beyond the newsworthiness of the campaign going after this reporter, there was what that reporter was able to elicit from paul ryan. there's h
of long-term measures to bring entitlements, spending and taxes into a better place is the right solution. and would create enormous confidence in the xhi. now i don't think people think it is an immediate risk. of course it is an end-of-year risk but these cuts and tax increases all have to happen immediately, but i think that a widespread agreement that a simpler, more straightforward budgeting process for the country would have enormous benefits over the next decade. >> thank you both very much. neil, we'll circle back to you later in the hour. >>> the street making an important call on walmart today but is it the right call? we're going to analyze the analysts coming up. >>> plus, finally some good news for europe. the european union getting the nobel peace prize. yes, you heard it correctly. but who should get the money? the greeks? germany? ms. merkel? we know it wasn't awarded for economics. >>> here's a look at the biggest gainers on the nyse with the market down just slightly. we have the ipo of the day. workday which is traded right behind me here at nyse, up 73% at $48.66. you.
want it take us back to deregulation, giving more tax breaks to the wealthiest americans. this is right in the wheel house of joe bbiden. the fact that they're down playing the fact of how much debate experience paul ryan has is just window dressing. i've seen joe biden so many times on the stump in person, he stands up, he gets riled up. this will be a little bit more controlled and i think a lot more centered to the facts. but expect paul ryan to come out and lie just as much as mitt romney did last week. that's what i expect. >> the swing voters as well as the base, to they expect more about substance or style? >> first of all, no one in this country has made the case that vice president joe biden has done a bad job. the country knows who this man is. they know his background, they know he didn't go to the united states senate to be a millionaire. he went there to work on behalf of the people. so there's a lot of people that will expect a lot out of joe biden because they know who he is. but he'll be presenting the case that where we were and where we're going is great for america. a
the modern term. all the old argument, how much of his tax deductions cover his tax deductions. boring. >> it's got to be about where are the mortgage -- where are the tax deductions you're going to get rid of, for example, on taxes? i think that's important for -- >> they won't tell you. >> then they've got to say -- >> he's already said he's not going to -- >> the other big thing is medicare. >> grandma on that bus searching around town trying to -- >> that's what i want to know. 80-year-old grandma on a bus to buy anything let alone to get a health insurance program that meets her budget given to her by paul ryan. >> and i agree with you also, chris. if they talk about the tax thing too much in the context of deficit reduction, it doesn't help them because that's not the president's strongest turf. >> i know i ask you all of the great questions because you're a great reporter. it sounds like you're saying that the vice president will not go for the kill. he won't nail them on the 47%, nail them on vouchers, nail him on the emergency rooms. will he do that? >> no. look, i had an adviser tel
duelling ads today. >> this was dishonest. >> i'm not in favor of the $5 trillion tax cut. >> romney is being dishonest here, too. according to an independent non-profit study, barack obama and liberals will raise taxes on the middle class. >> the ad is airing in eight swing states including florida and ohio. meanwhile the romney campaign ad makes a strong push to capture the woman's vote. >> in 2008, i voted for barack obama. he doesn't have my vote this time. being a woman you think about your future and your children. what i want to think about is a future that has jobs. >> the ad goes on to say the economy is important to women. >> a victory for the obama campaign on early voting in ohio. a federal appeals court in the buckeye state just reinstated early voting on the three final days before election day. the ruling means that people in the key battle ground state can continue to cast their ballots. depending on the decision of the local border of elections that is. the obama camp filed that lawsuit arguing that everyone should have a chance to vote on those days. >> and the earl
Search Results 0 to 49 of about 152 (some duplicates have been removed)